Court : Allahabad
Reported in : [1980]122ITR919(All)
..... , the tribunal has referred for our opinion the following question of law :'whether, on the facts and in the circumstances of the case, the appellate tribunal was correct in upholding the direction given by the appellate assistant commissioner to the income-tax officer to determine the development rebate admissible to the assessee for the years 1967-68 and 1968-69, when admittedly in those years the assessee had suffered losses and had not created ..... the position was clarified by the board of direct taxes in its circular f. no. ..... by the finance act of 1966, the explanation was added to section 34(3)(a) with retrospective effect. ..... cit : [1971]82itr913(sc) , it has been held by the supreme court that the income-tax authorities are bound by the board's circular and that the same are entitled to be given effect to by the courts as well. ..... (c) where there was no deliberate contravention of the provisions, the income-tax officer may condone genuine deficiencies subject to the same being made good by the assessee through creation of adequate additional reserve in the current year's books in which the assessment is framed.' 20. ..... the ito was directed to determine the development rebate admissible to the assessee.3. ..... rajagopalan, ito : [1973]92itr241(bom) and tata iron & steel co. ..... cit : [1973]87itr501(cal) , bombay high court (indian oil corporation ltd. v. s. .....
Tag this Judgment!Court : Allahabad
Reported in : (1982)29CTR(All)295; [1982]138ITR689(All); [1982]10TAXMAN209(All)
..... there was also no dispute that under clause 2(b)(ii) of part ii of the first schedule of the finance act, 1965, which was relevant for the year under consideration, super-tax was not chargeable. ..... ii of the first schedule to the finance act, 1965, the petitioner was not liable to pay any super-tax and that being so the deduction of super-tax at rs. ..... it has been laid down in that case thus (headnote) : ' the power to make a reference under section 57 (of the stamp act) is not only for the benefit of the chief controlling authority but enures also for the benefit of the party affected by the assessment and can be demanded to be used also by such a ..... the circumstances, both in the writ petition and in the income-tax reference, parties are directed to bear their own costs. ..... may make such enquiry or cause such enquiry to be made and, subject to the provisions of the act, may pass such order thereon, not being an order prejudicial to the assessee, as he thinks fit. ..... that the assessment made by the ito without taking into account that amount of interim dividend should be revised and that the petitioner be given the benefit of the refund of the super-tax, which was deducted at source before the payment of the interim dividend to it. ..... the order of the commissioner dated 28th november, 1967, was quashed and he was directed to dispose of the revision petition afresh and according to law. 9. ..... 7528 of 1973, that petition was allowed on september 28, 1976 ..... this order was passed on 30th july, 1973. .....
Tag this Judgment!Court : Allahabad
Reported in : [1977]110ITR722(All)
..... -tax were taken into consideration by the income-tax officer.in view of the provisions of clause 2(b)(ii) of part ii of the first scheduleto the finance act, 1965, the income of the petitioner was not liable tosuper-tax ..... the petitioner also preferred a revision petition to the commissioner of income-tax (hereinafter referred to as 'the commissioner') under section 264 of the income-tax act, 1961, praying that the order of assessment might be revised so that the interim ..... learned counsel for the petitioner and the learned standing counsel for the income-tax department regarding the sustainability of the order of the commissioner dismissing the revision petition ..... and that the assessment made by the income-tax officer without taking into account that amount of interim dividend, should be revised and that it (the petitioner) should be given the benefit of the refund of the super-tax which was deducted at the source before payment of the interim ..... included in the original return, might be included in its income and the super-tax deducted at the source might be refunded to it (the petitioner). ..... under article 226 of the constitution, the petitioner has prayed for quashing the orders of the income-tax authorities and has also prayed for issue of a direction to the income-tax officer to refund certain amount of tax. 2. ..... in the circumstances of the case, we direct the parties to bear theirown costs in ..... 4/mirza-pur/1967-68 and direct him to dispose of the revision petition afresh and according to .....
Tag this Judgment!Court : Allahabad
Reported in : (2005)198CTR(All)274; [2006]281ITR70(All)
..... : [2000]242itr302(delhi) , considered the scope of the provisions of section 132 and chapter xiv-b of the act, explaining that chapter xiv-b was inserted by the finance act, 1995 laying down a special procedure for assessment in search cases. ..... or thing and such money, bullion, jewellery or other valuable article or thing represents either wholly or partly income or property which has not been, or would not be disclosed for the purposes of the indian income-tax act, 1992 (11 of 1992), or this act (hereinafter in this section referred to as the undisclosed income or property), the officer so authorized in all cases being hereinafter referred to as the authorized officer to -(i) enter and search any building, place, vessel, vehicle or aircraft ..... this writ petition has been filed by the petitioner-partnership firm for quashing the warrant of authorization dated 20.03.1999 (annex.6) issued under the provisions of section 132 of the income tax act, 1961 (hereinafter called 'the act') and further for directing the respondents to refund the amount of rs. ..... rational connection postulates that there must be a direct nexus or live link between the material coming to the notice of the income-tax officer and the formation of his belief............it is no doubt true that the court cannot go into the sufficiency or adequacy of the material and substitute its own opinion for that of the income-tax officer on the point as to whether action should be initiated for reopening assessment. .....
Tag this Judgment!Court : Allahabad
Reported in : (2006)206CTR(All)505; [2006]287ITR172(All)
..... prior to substitution of the phrase 'in accordance with the provisions of chapter iv, on the basis of evidence found as a result of search or requisition of books of account or documents and such other materials or information as are available with the assessing officer' occurring in sub-section (1) of section 158bb of the act by the finance act, 2002, with retrospective effect from july 1, 1995, by the following phrase 'in accordance with the provisions of this act, on the basis of evidence found as a result of search or requisition of books of account or other ..... (2) the assessing officer or the commissioner (appeals), in the course of any proceedings under this chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount of tax leviable but which shall not exceed three times the amount of tax so leviable in respect of the undisclosed income determined by the assessing officer under clause (c) of section 158bc:provided that no order imposing penalty shall be made in respect of a person if -(i) such person .....
Tag this Judgment!Court : Allahabad
Reported in : (2004)188CTR(All)361; [2004]266ITR453(All)
..... 68b of the second schedule to the income-tax act is not applicable to the facts of the present case because it was inserted by the finance act, 1992, with effect from june 1, 1992 ..... proceedings of attachment or sale of the immovable property are stayed by an order or injunction of any court; or(iii) commencing from the date of the presentation of any appeal against the order passed by the tax recovery officer under this schedule and ending on the day the appeal is decided, shall be excluded : provided that where immediately after the exclusion of the aforesaid period, the period of limitation for the sale ..... and final either by an order of the settlement commission under section 245-i or by any order of the appellate authority or revising authority under section 246 254(1) or 263/264 of the income-tax act giving rise to the demands for which the recovery proceedings were initiated in the year 1972 itself when one of the writ petitions was filed. ..... from the end of the financial year in which the order giving rise to a demand of any tax, interest, fine, penalty or any other sum, for the recovery of which the immovable property has been attached, has become conclusive under the provisions of section 245-i or, as the case may be, final in terms of the provisions of chapter xx : provided that where the immovable property is required to be resold due to the amount of ..... disposed of by this court on january 22, 1997, directing the tax recovery officer to decide the petitioner's representation. .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]148STC279(All)
..... but it directed that the question as to whether there was a relationship of lessor and lessee in between industrial finance act of india and indian turpentine & rosin company has to be examined under section 3f(1)(a) of the act for the assessment years 1990 ..... the above discussion, therefore, we are of the opinion that the authorities are duty bound under law as well as in equity to refund the excess amount of tax realized from the petitioner even if there is no specific direction, under section 29 of the act, subject to doctrine of unjust enrichment as firmly laid down by apex court in the, case of mafatlal industries ltd. ..... armed with the orders of the tribunal the petitioner approached the assessing authority for the refund of the tax deposited by it for the aforesaid two assessment orders, who by the letter dated 1st of april, 2001, vide annexure -4, to the writ petition directed the petitioner to get the order of the tribunal dated 3.12.1997 rectified as there is no specific order to refund the amount ..... action not warranted in law, which can be of very serious consequence to the tax payer if is allowed to remain without correction, such harassment and brow beating of an honest tax payer will otherwise drive even such honest tax payer to become cynical and lead to a situation where tax payers will get a feeling that paying taxes honestly is not worthwhile exercise; that the tax authorities are a menace to the society rather than simply being representatives of the ..... chapter .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1967All248; [1967]65ITR386(All)
..... section 13 (1) of this finance act kept the operation of the hyderabad income tax act alive in respect of levy, assessment and collection of income tax and super tax for the mentioned period. ..... he repelled the objection that the proceeding were barred by time and held that an order under section 23-a prior to its amendment by the finance act 1955 could be made at any time there was no time limit prescribed for it the legislature having amended the section in 1955 has shifted the liability from the share holders on to the company itself. ..... the learned advocate general appearing for the petitioner has stressed that section 23-a after its amendment by the finance act 1955, was a charging section and an order passed thereunder was an order of assessment to which section 34 (3) was attracted section 34 (3) provides that no order of assessment shall be made after the expiry of four years from the end of ..... both these sections are in chapter iv which is headed as 'deductions and assess merits'. ..... the company was not directly affected. ..... the order under section 23-a does not achieve this directly. .....
Tag this Judgment!Court : Allahabad
Reported in : (2009)221CTR(All)49; [2008]307ITR298(All); [2009]180TAXMAN328(All)
..... of long storage, scientific examination might indicate loss of moisture content, that is not sufficient for holding that the stored articles have undergone a 'process' within the meaning of section 2(7)(c) of the finance act, 1973.held accordingly, that the appellant-company running a cold storage was not an 'industrial company' for the purpose of section 2(7)(c) of the finance act, 1973, and schedule i thereto and was not entitled to concessional rate of tax thereunder.19. ..... friends ice factory and cold storage observed that (headnote):a perusal of clause (b)(iii) of section 32a(2) of the income-tax act, 1961, makes it clear that a machinery or plant is eligible for investment allowance when installed for the purposes of ..... for the assessment years under consideration, the assessee has claimed investment allowance under section 32a of the income-tax act (hereinafter referred to as 'the act'), by stating that the assessee is producing chilled air in the cold storage, which amounted to ' ..... , observed that in common parlance, 'processing', is understood as an action which brings forth some change or alteration of the goods or material subjected to the act of processing by observing that (headnote):in a cold storage, vegetables, fruits and several other articles which require preservation by refrigeration are stored. ..... 252 of 1993 has directed the tribunal to draw up the statement of case and refer the following questions for the court's opinion for the assessment years 1983-84 and .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1965All376; [1965]57ITR372(All)
..... it is probable that in order to meet this difficulty section 44 was amended by the finance act of 1958 so that its provisions applied to the assessment of a dissolved firm, whether the business had been discontinued or not, and it may be possible to say that because of this change in section 44 the provisions of ch. ..... it is contended that there was no provision in the indian income tax act at the time when the relevant assessments were made entitling an income tax officer to take assessment proceedings against a firm after its dissolution.4. ..... the distinction between proceedings under the income tax act and the excess profits tax act in this regard was specifically brought out by the supreme court, and it approved of the decision of the madras high court in pandu rao v. ..... opinion, this case is of no assistance, because the decision turned upon the consideration that the appellant had himself asserted that the firm bad not been dissolved and because under the excess profits tax act the unit of assessment is the business and not the firm. ..... section 41 not only imposes liability upon a firm where its business has been discontinued but also declares that all the provisions of chapter iv shall, so far as may be, apply to any such assessment.' ch. .....
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